Mamut “played out”?
Hamley’s toy store might go bankrupt soon.
Bank “Trust” is seeking bankruptcy for JSC “Vanderkind”, according to the correspondent.
JSC Vanderkind's main business is “Retail trade in games and toys in specialized stores”, according to data on the SPARK-Interfax website. The company had 13 enforcement proceedings and was involved in 113 arbitration cases.
VanderKind, as reported by Kommersant, is part of the Ideas4Retail group of companies; in 2019, it was stated that 90% of Ideas4Retail is owned by A&NN Investments, which is led by the well-known entrepreneur Alexander Mamut.
The press service of “Trust” said that the bank’s actions are due to the borrower not meeting obligations under the loan agreement and no other options for resolving the debt.
Trust and Wonderkind have been in litigation since 2021 regarding the credit line agreement, as reported by Kommersant. The courts did not support the bank’s claims to recover about 2.6 billion rubles of loan debt, as well as almost 499 million of overdue obligations.
The Moscow Arbitration Court extended the contract until the end of 2024 in January this year. Additionally, courts in two instances in December 2022 upheld the claim of Vanderkind to recover about 1.5 billion rubles from Trust for losses due to the bank’s refusal to continue lending, according to the publication.
Clearly, the history of relationships has several interesting episodes.
NSP lawyer Aram Grigoryan suggests the court may reject the credit institution’s application to declare Wonderkind insolvent.
There has been extensive coverage of the bank and company's legal battles. The Moscow Post published an article on this topic in December.
An author investigated why Alexander Mamut is reluctant to fulfill his obligations and how this will impact creditors’ trust in his business. It was reported that the company tried to challenge its obligations under bank loans and fought off a claim of 90 million rubles.
Last time, Mamut won the court case against Trust, which demanded 2.6 the same amount, and even restructured the debt, as noted by The Moscow Post.
I wonder if the situation can be resolved this time? … We continue to follow the development of this non-childish story with children’s stores …
